[Iran Press TV Latest] To mark May Day, Bolivian President Evo Morales has nationalized the Bolivian subsidiary of British aviation fuel supplier Air BP. On Friday, Morales ordered the military and state oil company Yacimientos Petroliferos Fiscales Bolivianos (YPFB) to take over Air BP, which owns 12 jet fuel service stations at airports in La Paz, Santa Cruz, Cochabamba, Tarija, Beni and Pando. Air BP has British and Spanish capital and sells fuel for commercial aviation. Air BP's Bolivian subsidiary is headquartered in the southern Bolivian city of Santa Cruz de la Sierra.
To mark May Day, the president also ordered workers' benefits, including mandatory severance pay after 90 months (before five years) of continuous work to cover social security coverage for temporary employees.
Morales has been in power since January 2006, nationalized the country's oil and gas reserves in his first year in office, benefiting from the income gained from the export of natural gas to Brazil and Argentina.